“How To Increase Your Revenue & Proﬁt Per Employee... Without Increasing Your Payroll Costs” 6 min : 40 Sec

Employee Engagement Tools for Finance Directors and CFOs

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In this 6 minute and 40 second presentation which I've created specifically for finance directors and CFOs, I'll share with you, how, without incurring more payroll or overhead costs, you can increase the revenues and profits each of your employees generate for your company. But first, let me introduce myself. My name is Richard Parkes Cordock, and I'm the founder of Enterprise Leaders Worldwide. I'm also a business author and I've written a number of books on the subject of people, marketing and profit growth. Many of the ideas I'll share with you in this short presentation and in my books come directly from self-made millionaire business leaders and entrepreneurs. People such as Duncan Bannatyne and Simon Woodroffe from Dragons' Den, Sir Tom Hunter, Lord Harris, Lord Bilimoria and many other high-profile and successful B2B and B2C entrepreneurial business leaders. Like you, my background is in finance and accounting. As an FCCA and MBA I spent years implementing ERP systems around the world. But some years ago I made the switch from finance to people, and I now help companies like yours, grow your revenues and profits, by getting more performance, productivity and passion from your workforce. Along the way, I've developed some new approaches to people and profit growth which borrow from finance, technology and ERP. But more about that in a moment... What I'm about to share with you in this, and subsequent presentations I haven't seen taught in any accounting or even MBA course. Yet it is key to profit growth, and it's something multi-millionaire dragons such as Duncan Bannatyne intuitively know only too well. What Duncan knows is that people are the key to achieving extraordinary business results. To make this point, I often ask FDs, CFOs and other senior executives in seminars I present at to create a mental picture of their office, factory or place of work. I ask them to imagine their entire workforce standing outside in the car park so the building is empty of employees. I ask them how long would it take before their business started to fail? It's a question I put to you too, to consider in your own company. For many companies, things would start to fall apart in just a few minutes, as phones wouldn't get answered, customers wouldn't get taken care of, and orders wouldn't get fulfilled... you get the idea - and you know only too well the financial impact this would have on a business. There is no disputing the fact that people are the critical engine which drives companies forward each day. But not all employees are equal. Some are highly engaged superstars who drive your business forward. Research by the gallup Organisation suggests that on average only 29% of a workforce is highly engaged. Some employees, around 17% are disengaged and have a negative influence on your company. These are not bad people, but may be ones who are in the wrong job, or even the wrong company - yet are still being charged to your P&L account as payroll costs. The remaining 54% are what I call middle men and women. These are employees who do an OK job, but who neither over nor under perform. They represent the biggest room for improvement in your company. Equally however, it's important to remember that even employees who were previously superstars can quickly become a hindrence if they become disengaged and loose motivation. By the same token, disengaged employees, with the right motivation and leadership can become superstars who take your company forward. But this doesn't happen by accident! You may well ask, "What has this 'people issue' got to do with me as a Finance Director or CFO?" - or "Why isn't this the domain of HR?" The fact is, that people and profit go hand in hand, and engaged, motivated employees lead directly to higher levels of revenues, profits and shareholder value - and this is something which is firmly on your agenda as FD o

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